The Cancer Diagnostics Global Market Report 2023 by The Business Research Company, provides cancer diagnostics market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s Cancer Diagnostics Global Market Report 2023, the market size is expected to grow from $19.18 billion in 2022 to $21.38 billion in 2023 at a compound annual growth rate (CAGR) of 11.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global cancer diagnostics market size is expected to grow to $33.13 billion in 2027 at a CAGR of 11.6%.
A high prevalence rate of various types of cancers is a major driver of the cancer diagnostics market. This is because the increasing incidences of various types of cancers are leading to a greater number of people opting for diagnosis and treatment. In addition, according to the World Health Organization (WHO), cancer was the second-leading cause of death worldwide. The National Cancer Institute (NCI) has estimated the number of new cancer cases per year to reach 23.6 million by 2030.
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The cancer diagnostics market is segmented:
1) By Products: Companion Diagnostics, Molecular Diagnostics
2) By End-User: Cancer Research Institutes, Diagnostic Laboratories, Hospitals, Other End Users
3) By Method: Biopsy, Endoscopy, Tumor Biomarker Tests, Imaging
4) By Application: Cervical Cancer, Breast Cancer, Liver Cancer, Blood Cancer, Kidney Cancer, Colorectal Cancer, Pancreatic Cancer, Ovarian Cancer, Melanoma, Other Applications
The AI-based cancer detection system is an emerging trend in the cancer diagnostics market. AI helps in improving the accuracy of image detection in diagnostic processes such as breast cancer and lung cancer diagnostics, by detecting the cancers in early stages. AI also reduces the instances of false positives in lung cancer screening, thus, improving lung cancer detection accuracy. For instance, researchers at the Naval Medical Center San Diego and Google’s AI research division Google AI developed a reliable solution comprised of cancer-detecting algorithms used for autonomous evaluation of lymph node biopsies. This AI solution improved the accuracy of metastatic breast cancer detection to 99%.
The cancer diagnostics market report table of contents includes:
1. Executive Summary
2. Cancer Diagnostics Market Characteristics
3. Cancer Diagnostics Market Trends And Strategies
4. Cancer Diagnostics Market – Macro Economic Scenario
5. Cancer Diagnostics Market Size And Growth
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26. Africa Cancer Diagnostics Market
27. Cancer Diagnostics Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Cancer Diagnostics Market
29. Cancer Diagnostics Market Future Outlook and Potential Analysis
30. Appendix
Top Major Players:
- Abbott
- Becton Dickinson and Company
- Hoffmann-La Roche Ltd
- GE Healthcare Ltd
- Thermo Fisher Scientific
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